ETHFI

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0560%/8h= −61.3% APRnext payment −$0.70 per $10,000 · paid last 24h −0.169%

Price spread now: Deribit against Hyperliquid+0.034%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. Deribit is 0.034% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.034% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ETHFI	0.7034	0.0100	pay 0.0013% / 1h	49m 36s	$17.5M	$8.0M	5x
Short	Deribit ETHFI_USDC-PERPETUAL	0.7036	−0.0460	pay 0.0058% / 1h	49m 36s	$40K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee DeribitbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$117.63
Price spread: +0.034% → 0.000%: $3.41
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$130.22
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; Deribit: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 3 min ago	0.07 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ETHFI on 24 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETHFI_USDC-PERPETUALshort	−0.0460%	1h	0.7036	+0.034%	$40K	$12K	10x
Orderly PERP_ETHFI_USDC	−0.0209%	4h	0.7032	−0.023%	$16K	$1K	10x	as long as short
HTX ETHFI-USDT	−0.0116%	4h	0.7031	−0.037%	$87K	$168K	20x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+2.934%	$321	$51K	5.5x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0044%	1h	0.7041	+0.098%	$263K	$213K	20x	as long as short
Paradex ETHFI-USD-PERP	+0.0068%	8h	0.7029	−0.062%	$6K	—	5x	as long as short
Lighter ETHFI	+0.0096%	1h	0.7038	+0.061%	$1.1M	$878K	5x	as long as short
Hyperliquid ETHFIlong	+0.0100%	1h	0.7034	long leg	$17.5M	$8.0M	5x
Aster ETHFIUSDT	+0.0100%	4h	0.7033	−0.009%	$180K	$258K	10x	as long as short
Binance ETHFIUSDT	+0.0100%	4h	0.7027	−0.094%	$24.5M	$35.5M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHFIUSDT	+0.0100%	4h	0.7030	−0.051%	$17.6M	$12.6M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7037	+0.048%	$4.9M	$12.2M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7029	−0.065%	$1.7M	$1.9M	75x	as long as short
MEXC ETHFI_USDT	+0.0100%	4h	0.7028	−0.080%	$15.7M	$4.0M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7029	−0.065%	$1.2M	$242K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7026	−0.108%	$6.0M	$5.2M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7028	−0.080%	—	$26.0M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7039	+0.081%	$1.0M	$699K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7044	+0.144%	$70K	$118K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7040	+0.091%	$1K	$1.1M	20x	as long as short
Extended ETHFI-USD	+0.0104%	1h	0.7023	−0.150%	$95K	$378K	10x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7030	−0.051%	$8K	—	3x	as long as short
BloFin ETHFI-USDT	+0.0340%	4h	0.7039	+0.077%	$1.2M	$242K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0624%	1h	0.7074	+0.574%	$31K	$6K	50x	as long as short